Dear Board and Fellow ACA Members,
Here are the August Financial Statements for your review. Please bear in mind these are not audited statements and may be subject to revision at a later date. This is the most accurate information our external accounting services provider has made available at this time.
These Financial Statements are posted on the new ACA website at acawso.org. Click on Treasurer’s Report on the side menu.
In reviewing the Balance Sheet we can see ACA WSO ended the month with $683,827 in Total Assets. This is an increase of 4.6% ($31,328) from the previous month and is due primarily to an increase in our Total Cash Assets. Our Checking and Savings account totals increased from $359,308 in July to $397,389 in August.
WSO’s Inventory Assets decreased by approximately $20,409. This is the second month our inventory levels have dropped while we utilize our existing inventory. We currently have $77,000 of inventory orders we are waiting to be delivered. We have prepaid a deposit for these orders of $39,000. The August Inventory total was $96,009.
WSO’s Total Liabilities and Equity of $683,827 at the end of the period and a Year-To-Date profit of $74,269.
Profit & Loss Statement
Looking at the P&L we can see Total Revenue for August was slightly lower at $104,627 compared to $110,569 in July. The Cost of Goods Sold (COGS) was $55,226 and was slightly higher compared to the July’s COGS of $52,795 showing a Gross Profit of $49,401. The impact of the lower sales revenues and the higher COGS was a lower Gross Margin of 47.2% in August compared to 52.3% in July.
Overall WSO expenses were $28,983 including payroll and operating expenses resulting in a net income of $20,418 for the month of August.
7th Tradition Contribution Report:
WSO received $11,068.89 in 7th Tradition Contributions for the month from members, groups, and intergroups. This is an increase of 13.5% over last year’s overall average of about $9,750 per month.
To see the 7th Tradition Contributions for the month click the link below or go to the 7th Traditions tab in the right-side menu of the acawso.org website.
Pat H., Treasurer